WALTHAM,
Mass., Nov. 22, 2023 /PRNewswire/ -- Aeglea
BioTherapeutics, Inc. ("Aeglea") (NASDAQ: AGLE), a biotechnology
company advancing a pipeline of antibody therapeutics with the
potential to transform the treatment of inflammatory bowel disease
("IBD"), today announced that Aeglea's independent Compensation
Committee of the Board of Directors approved the grants of stock
options to purchase an aggregate of 351,750 shares of common stock
and a grant of 18,912 restricted stock units to four non-executive
employees as equity inducement awards under the Aeglea
BioTherapeutics, Inc. 2018 Equity Inducement Plan, as amended (the
"2018 Plan"). The inducement awards were approved on November 20, 2023 and were material to each
employee's acceptance of employment with Aeglea, in accordance with
Nasdaq Listing Rule 5635(c)(4).
The stock options were granted with a 10-year term and an
exercise price equal to $10.48, the
closing price per share of Aeglea's common stock as reported by
Nasdaq on November 20, 2023. The
options granted to each employee will vest and become exercisable
as to one-fourth (1/4th) of the shares subject to the respective
options on the first anniversary of the employee's start date, and
one-forty-eighth (1/48th) of the shares subject to the respective
options shall vest and become exercisable monthly thereafter, in
each case, subject to continuous service with Aeglea through the
applicable vesting dates. The restricted stock units will vest as
to one fourth (1/4th) of the restricted stock units on each
anniversary of the employee's start date, subject to continuous
service with Aeglea through the applicable vesting dates. The stock
options and restricted stock units are subject to the terms of the
2018 Plan.
About Aeglea BioTherapeutics
In June 2023, Aeglea completed its asset acquisition
of Spyre Therapeutics, Inc. and shifted its disease focus to IBD.
Aeglea is advancing a pipeline of antibody therapeutics with the
potential to transform the treatment of IBD. Aeglea's approach
combines novel antibody engineering, rational therapeutic
combinations, and precision immunology with the goal of maximizing
efficacy, safety, and convenience of treatments for IBD. The
company is developing antibodies targeting α4β7, TL1A, and
IL-23.
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SOURCE Aeglea BioTherapeutics, Inc.